Leicester City have agreed a fee with Porto for defender Ricardo Pereira, according to reports in Portugal.

Newspaper A Bola states that City have agreed to pay €20 million, £17.5 million, with a further €5 million, £4.3 million in add-ons and that the deal will be announced shortly by Porto.

It also states that Claude Puel, who worked with the 24-year-old right-back at Nice, played a crucial role in convincing the Portugal international to join City.

Leicester City target Ricardo Pereira up against Alberto Moreno during Porto's Champions League meeting with Liverpool (Image: Shaun Botterill/Getty Images)

City identified Pereira as a prime target several months ago and have been locked in talks with the Portuguese champions for the past few weeks.

Puel is keen to bolster his defensive options with right-back a priority, as Danny Simpson was the only recognised right-back in the squad.

Pereira recently stated that he was likely to leave Porto at the end of the season to seek a new challenge abroad and he looks set to become the first signing of the transfer window, which opened today.